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LATEST NEWS UPDATES | Centre allows import of pulses despite farmers sitting on huge stocks -Rajesh Bhayani

Centre allows import of pulses despite farmers sitting on huge stocks -Rajesh Bhayani

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published Published on May 22, 2018   modified Modified on May 22, 2018
-Business Standard

1.5 million quintals of tur to be imported under MoU between India and Mozambique, even as farmers hold 4 times more

Mumbai:
In what appears to be another instance of farmers’ interests being hurt for no fault of their own. And this time, too, it's pulses.

The year 2016-17 was a crisis year for pulses, with prices skyrocketing past the Rs 100-150 per kg mark amid crop failure.

In the following years, farmers significantly increased the area under pulses. During the crisis year, India signed an MoU to import 3.75 million quintal of pulses in 3 years from Mozambique.

But farmers are now paying a price for this because the government allowed the import of 1.5 million quintals of tur dal last week. Farmers are holding a stock of nearly 6 million quintal with them, as prices have fallen far below the minimum support price. To add to the pain, another 10 million quintal tur is estimated to be with various government agencies.

India's pulse import in 2018-19 is likely to be in the ballpark of $1.5 billion, which is much lower than 2016-17 ($4.2 billion, 6.6 million tons) and 2017-18($2.9 bn, 5.5 million tons), declining in step with falling prices.

Prime Minister Narendra Modi went to Mozambique in July 2016 when pulse prices in India went through the roof. He signed an MoU with the country to import tur and other pulses for three financial years starting from 2016-17 (100,000 tons), through 2017-18 (125,000 tons) and (150,000 tons) in 2018-19. Last Tuesday, DGFT announced an import quota of 150,000 tons of tur (other pulses) from Mozambique.

Devendra Vora of Navi Mumbai-based Friendship Traders said, “Releasing import quota for import from Mozambique at this time will only hurt farmers’ interest going by the market scenario of the pulses.”

Currently, the desi variety of tur is selling at Rs 38-42 per kg in various mandis, lower than the MSP of Rs 54 per kg. The cost of importing pulses from Mozambique is around Rs 28-30 per kg which makes it quite viable.

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Business Standard, 22 May, 2018, http://www.business-standard.com/article/markets/centre-allows-import-of-pulses-despite-farmers-sitting-on-huge-stocks-118052100261_1.html


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